Lehman Brothers Financial SA (LEHNQ)

[real777mellon]

Still no updates since Rossman and QE made a request for review, reargument or leave to appeal to the NYS Court of Appeals to address a few important legal errors, the worst of which is similar to the recent Chevron doctrine revoked by SCOTUS to leave the interpretation of a company mandate to the judicial review and not corrupt and often look the other way regulators.

Here's co-pilot summing it up nice:

Here is a summary of the document:

- **Legal Errors**: Lehman Brothers International (Europe) argues that the Supreme Court and Appellate Court made significant legal errors by not applying the correct objective standard of reasonableness and misinterpreting the ISDA Master Agreement[^1^][1].

- **Public Importance**: The case has broad implications for financial markets globally, as the judicial interpretation of the ISDA Master Agreement affects numerous transactions and contracts.

- **Objective vs. Subjective**: The document emphasizes the necessity of using an objective standard for calculating losses, contrasting it with AG Financial Products' subjective methods.

- **Request for Review**: Lehman Brothers seeks reargument or leave to appeal to the New York State Court of Appeals to address these legal errors and their wider impact.

https://iapps.courts.state.ny.us/nyscef/ViewDocument?docIndex=Zv9GCYz0lUnBVSiz7/jgQA==

Ultimately, I think that this is an appeal won by LBIE at some point because of the Public Importance section for all derivatives markets.